Estate and Trust Administration

trust administration

The passing of a loved one is a very painful ordeal. After the initial grieving, the family faces the reality of the financial burden and accounting issues. At Urbach & Avraham, CPAs, we can alleviate the nightmare of dealing with the financial affairs of a deceased relative. We will work together with your attorney to plan the administration of your loved one's estate.

Allocation and Distribution of Assets

Who gets which assets? Who pays the estate tax?

These are excellent questions and there are many other like: Which assets should we sell? Which assets should we transfer in kind? When do we transfer the retirement account? Will the withdrawals be taxable? The allocation and distribution of assets may be the most complicated step of the administration of the estate. It is also the source of many lawsuits. We can work with you and your family to explain the tax and accounting ramifications of each asset.

Funding Testamentary Trusts

What about Mom? Which assets go into the trust for Mom?

When handling the administration of the estate of the first parent to die, we must provide for the surviving parent. Which asset should go into the Unified Credit Trust set up for Mom? Which assets should we transfer into the Marital Trust? Which assets should Mom disclaim? These questions have serious financial and tax ramifications so we will guide you toward the best solutions for your unique situation.

Fiduciary Services for Trustees and Executors

The financial professionals at Urbach & Avraham, CPAs are ready to guide you through all your questions and concerns related to estate and trust administration. Call us today at 732-777-1158 or request a consultation online.

Executor Checklist